That’s certainly the view of WPP chief executive Sir Martin Sorrell, claiming that brands are not spending enough online because the people who run their agencies are too old and resistant to change.

Sorrell criticised brands for investing an average of just 13 per cent of their marketing budget online despite the rapid increase in digital media consumption.

"The companies that win are those that innovate successfully," he said. The shift from traditional to digital media will be helped by the fact that brands are becoming increasingly focussed on ROI.